Showing posts with label Weatherford International. Show all posts
Showing posts with label Weatherford International. Show all posts
Tuesday, October 16, 2012
Goldcorp (GG) (CAM) (CS) (HAL) (MEI) (SLB) (WFT) Had Ratings on Them Initiated
Goldcorp Inc. (GG), Cameron International Corp (CAM), Capstone Mining Corp. (CS), Halliburton (HAL), Manitok Energy (MEI), Schlumberger (SLB) and Weatherford (WFT) had ratings on them initiated by analysts.
Credit Suisse initiated coverage on Cameron International Corp (CAM). They placed an "Outperform" rating on the company.
BMO Capital Markets initiated coverage on Capstone Mining Corp. (CS) . They placed an "Outperform" rating on the company.
Barclays Capital initiated coverage on Goldcorp Inc. (GG). They placed an "Overweight" rating and price target of $62.00 on the company.
Credit Suisse initiated coverage on Halliburton (HAL). They placed an "Outperform" rating and price target of $44.00 on the company.
Stonecap Securities initiated coverage on Manitok Energy (MEI). They placed an "Outperform" rating and price target of $2.60 on the company.
Credit Suisse initiated coverage on Schlumberger (SLB). They placed a "Neutral" rating and price target of $66.00 on the company.
Credit Suisse initiated coverage on Weatherford (WFT). They placed a "Neutral" rating on the company.
Monday, April 16, 2012
Alpha (ANR) (EGO) (WFT) (CLD) (CNX) (ECA) (SNP) Ratings, Price Targets
Alpha Natural Resources (ANR), Eldorado Gold Co. (EGO), Weatherford (WFT), Cloud Peak Energy (CLD), CONSOL Energy Inc. (CNX), EnCana Co. (ECA) and China Petroleum and Chemical (SNP) had ratings and price targets on them adjusted by analysts.
Nomura upgraded Alpha Natural Resources (ANR) from a "Neutral" rating to a "Buy" rating. $20.00
BMO Capital upgraded Markets Eldorado Gold Co. (EGO) from a "Market Perform" rating to a "Outperform" rating. $18.50 $20.00
Raymond James downgraded Weatherford (WFT) from a "Strong-Buy" rating to a "Underperform" rating.
Credit Suisse downgraded Cloud Peak Energy (CLD) from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded CONSOL Energy Inc. (CNX) from an "Outperform" rating to a "Neutral" rating. $40.00
Credit Suisse downgraded EnCana Co. (ECA) from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded China Petroleum and Chemical (SNP) from an "Outperform" rating to a "Neutral" rating.
Nomura upgraded Alpha Natural Resources (ANR) from a "Neutral" rating to a "Buy" rating. $20.00
BMO Capital upgraded Markets Eldorado Gold Co. (EGO) from a "Market Perform" rating to a "Outperform" rating. $18.50 $20.00
Raymond James downgraded Weatherford (WFT) from a "Strong-Buy" rating to a "Underperform" rating.
Credit Suisse downgraded Cloud Peak Energy (CLD) from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded CONSOL Energy Inc. (CNX) from an "Outperform" rating to a "Neutral" rating. $40.00
Credit Suisse downgraded EnCana Co. (ECA) from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded China Petroleum and Chemical (SNP) from an "Outperform" rating to a "Neutral" rating.
Thursday, September 16, 2010
BP (NYSE:BP) Should Have Managed Transocean (NYSE:RIG), Halliburton (NYSE:HAL), and Weatherford (NYSE:WFT) Better Says Hayward
Among the numerous comments made before a hearing of British lawmakers, BP (NYSE:BP) outgoing CEO Tony Hayward said the company should have been more aggressive in managing contractors like Transocean (NYSE:RIG), Halliburton (NYSE:HAL), and Weatherford (NYSE:WFT).
According to FT, Hayward said, “What we have is a lack of rigour and a lack of oversight of contractors. The contractors here were world class and you might have thought they wouldn’t have needed that level of oversight, but it was clearly something that was found wanting.”
With few significant incidents in deepwater drilling over the last 20 years, Hayward added it left the industry unprepared to respond to a major accident like the one they experienced with the Deepwater Horizon, which had the added challenge at being at a depth of about 5,000 feet.
When asked about reported violations in the North Sea from the Financial Times, Hayward said the news outlet offered no revelation of any fundamental problems related to their operations there.
According to FT, Hayward said, “What we have is a lack of rigour and a lack of oversight of contractors. The contractors here were world class and you might have thought they wouldn’t have needed that level of oversight, but it was clearly something that was found wanting.”
With few significant incidents in deepwater drilling over the last 20 years, Hayward added it left the industry unprepared to respond to a major accident like the one they experienced with the Deepwater Horizon, which had the added challenge at being at a depth of about 5,000 feet.
When asked about reported violations in the North Sea from the Financial Times, Hayward said the news outlet offered no revelation of any fundamental problems related to their operations there.
Thursday, September 9, 2010
FBR Capital Reiterates "Outperform" on Weatherford (NYSE:WFT)
FBR Capital was quick to jump to what appears to be the defense of Weatherford International Ltd. (NYSE:WFT), maintaining their "Outperform" on the oilfield services company.
"Weatherford is under-performing its peers today by roughly 400 bps due in large part to what we believe is an over-reaction to one of the findings of BP's (NYSE:BP) Macondo blowout investigation report. BP's report concluded that the hydrocarbon influx occurred through the casing shoe track as opposed to a failure of the casing or the wellhead. This concern has prompted some investors to sell or short WFT shares assuming the company may have some liability for the blowout. We believe this concern is baseless...As such, we believe the sell-off in WFT today is not warranted by the facts presented in BP's report," said FBR Capital analyst Robert MacKenzie.
Weatherford closed Wednesday's trading session at $15.47, down $0.08, or 0.51 percent. The trading volume soared during the sell-off, rising to 27,891,983 shares, way up from the 3-month average of 12,922,000.
"Weatherford is under-performing its peers today by roughly 400 bps due in large part to what we believe is an over-reaction to one of the findings of BP's (NYSE:BP) Macondo blowout investigation report. BP's report concluded that the hydrocarbon influx occurred through the casing shoe track as opposed to a failure of the casing or the wellhead. This concern has prompted some investors to sell or short WFT shares assuming the company may have some liability for the blowout. We believe this concern is baseless...As such, we believe the sell-off in WFT today is not warranted by the facts presented in BP's report," said FBR Capital analyst Robert MacKenzie.
Weatherford closed Wednesday's trading session at $15.47, down $0.08, or 0.51 percent. The trading volume soared during the sell-off, rising to 27,891,983 shares, way up from the 3-month average of 12,922,000.
Friday, July 23, 2010
Schlumberger (NYSE:SLB) Earnings Up, But Not Enough
After competitors like Halliburton (NYSE:HAL) and Weatherford (NYSE:WFT) exceeded analysts' expectations earlier in the week, Schlumberger (NYSE:SLB) had pressure to perform strongly as well, but were only able to meet expectations, not surpass, causing the share prices to drop on what was perceived as disappointing news.
Even the 33 percent increase in earnings to $818 million, or 68 cents a share, wasn't enough to get investors excited, as revenue wasn't able to even meet expectations, reaching $5.94 billion for the quarter.
The Obama administration moratorium did hurt Schlumberger more than some rivals, as they figured it cost them close to 2 cents a share for the quarter, and with the ongoing ban, will cost them from 8 to 12 cents a share in the second half.
With expectations high after other strong industry performances, and solid numbers for the last four quarters, Schlumberger was expected to exceed, rather than just meet, expectations, causing the disappointment from the market.
Schlumberger plunged to $58.91 as of 3:40 PM EDT, dropping $2.39, or 3.90 percent.
Even the 33 percent increase in earnings to $818 million, or 68 cents a share, wasn't enough to get investors excited, as revenue wasn't able to even meet expectations, reaching $5.94 billion for the quarter.
The Obama administration moratorium did hurt Schlumberger more than some rivals, as they figured it cost them close to 2 cents a share for the quarter, and with the ongoing ban, will cost them from 8 to 12 cents a share in the second half.
With expectations high after other strong industry performances, and solid numbers for the last four quarters, Schlumberger was expected to exceed, rather than just meet, expectations, causing the disappointment from the market.
Schlumberger plunged to $58.91 as of 3:40 PM EDT, dropping $2.39, or 3.90 percent.
Tuesday, April 20, 2010
Weatherford International (NYSE:WFT) Blames Losses on Charges
In reporting a loss for the first quarter, Weatherford International (NYSE:WFT) blamed the losses on charges related to currencies, especially the devaluation by Venezuela of their currency.
Even so, after all the charges, Weatherford still fell short of analysts' expectations, as profits plunged even after removing the charges from the equation.
Much of that is attributed to the increased cost of doing business.
Excluding charges, earnings dropped from 27 cents a share last year during the same quarter to 6 cents a share the latest quarter. Overall losses came in at $40 million, or 5 cents a share, in contrast to profits last year of $164.8 million, or 23 cents a share; a disaster whatever way they want to spin it.
Revenue for the quarter grew to $2.34 billion, a 4 percent gain, while analysts had looked for revenue of $2.54 billion and earnings of 9 cents a share.
Most of the reason for the drop in earnings is from the weak Latin American market, which has been the main growth engine of the company. Earnings in that region plummeted by 66 percent, much of that from the decline in drilling in Mexico.
Even so, after all the charges, Weatherford still fell short of analysts' expectations, as profits plunged even after removing the charges from the equation.
Much of that is attributed to the increased cost of doing business.
Excluding charges, earnings dropped from 27 cents a share last year during the same quarter to 6 cents a share the latest quarter. Overall losses came in at $40 million, or 5 cents a share, in contrast to profits last year of $164.8 million, or 23 cents a share; a disaster whatever way they want to spin it.
Revenue for the quarter grew to $2.34 billion, a 4 percent gain, while analysts had looked for revenue of $2.54 billion and earnings of 9 cents a share.
Most of the reason for the drop in earnings is from the weak Latin American market, which has been the main growth engine of the company. Earnings in that region plummeted by 66 percent, much of that from the decline in drilling in Mexico.
Monday, April 5, 2010
Weatherford International (NYSE:WFT) Growing Fast
Weatherford International
With an estimated earnings per share growth of 30.5 percent over the long term, analysts say that Weatherford International (NYSE:WFT) is the fastest-growing company in their sector.
In a recent deal with Iraq, Weatherford was awarded seven new oil wells in the huge Rumaila oilfield.
If analysts are even close to being correct, this is a huge story, and one investors will want to follow closely if you don't already have a position in them.
Weatherford International Ltd. provides of equipment and services used in all stages of the oil and natural gas well business.
When Gabelli & Co initiates coverage on Weatherford recently, they started them off with a "Buy."
With an estimated earnings per share growth of 30.5 percent over the long term, analysts say that Weatherford International (NYSE:WFT) is the fastest-growing company in their sector.
In a recent deal with Iraq, Weatherford was awarded seven new oil wells in the huge Rumaila oilfield.
If analysts are even close to being correct, this is a huge story, and one investors will want to follow closely if you don't already have a position in them.
Weatherford International Ltd. provides of equipment and services used in all stages of the oil and natural gas well business.
When Gabelli & Co initiates coverage on Weatherford recently, they started them off with a "Buy."
Thursday, April 1, 2010
BP (LSE: BP) Awards Drilling Contracts in Iraq
BP Iraqi Drilling Contracts
BP (LSE: BP) has offered the lucrative drilling contract for the Rumaila oil field in Iraq, the largest one in the country, and one of the largest oil fields in the world, to several drilling companies. BP and its partner won about $500 million in contracts in the oil field, which will be contracted out to Schlumberger Ltd, Iraqi Drilling Company, Daqing Oil Field Co. Ltd and Weatherford International.
At this time 1.07 million barrels of oil a day are extracted from Rumaila, with a goal to increase that to 1.23 million barrels daily by the end of 2010, or at latest, early 2011. Ultimately they want to produce 2.85 million barrels a day. There are an estimated 17 billion barrels in crude oil reserves in Rumaila.
The group of companies will drill 70 wells this year in the oil field to increase production.
BP has entered several deal recently to build a solid foundation going forward, including in the Gulf of Mexico.
BP and its Chinese partner CNPC signed a 20-year contract to develop the oil field last year.
BP (LSE: BP) has offered the lucrative drilling contract for the Rumaila oil field in Iraq, the largest one in the country, and one of the largest oil fields in the world, to several drilling companies. BP and its partner won about $500 million in contracts in the oil field, which will be contracted out to Schlumberger Ltd, Iraqi Drilling Company, Daqing Oil Field Co. Ltd and Weatherford International.
At this time 1.07 million barrels of oil a day are extracted from Rumaila, with a goal to increase that to 1.23 million barrels daily by the end of 2010, or at latest, early 2011. Ultimately they want to produce 2.85 million barrels a day. There are an estimated 17 billion barrels in crude oil reserves in Rumaila.
The group of companies will drill 70 wells this year in the oil field to increase production.
BP has entered several deal recently to build a solid foundation going forward, including in the Gulf of Mexico.
BP and its Chinese partner CNPC signed a 20-year contract to develop the oil field last year.
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